What is the present value of your winnings

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Reference no: EM131087814

You have just received notification that you have won the $1.4 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday, 70 years from now. The appropriate discount rate is 8 percent. What is the present value of your winnings?

$4,288.16

$6,404.20

$15,309.91

$23,333.33

$25,000.00

Reference no: EM131087814

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